Episode 3: Grace Camara - “The Soft Bigotry of Low Expectations”
This episode spotlights Grace, Executive Director of the RemitFund which is a non-profit that takes money from money transfer operators and invests in African entrepreneurs globally, A Sierra-Leonean Brit, she currently resides in Brussels, mothering twin girls. I had the honor of meeting Grace at Women In Africa, where she won an award for innovation for Remit Fund's amazing work supporting business growth. Lamenting the choices of feeding her children chocolate cake vs carrots, Grace starts the show giving us a birds eye view of running Remit Fund while balancing motherhood. Grace talks about how after a stint working in the legal international development arena "her pain became her purpose" based on what she calls the "soft bigotry of low expectations" (Coming to a t-shirt and coffee mug soon!) -known all too well by women of color in this sector. Buoyed by wanting to disrupt the status quo, RemitFund was birthed from the statistic that over $40 billion US dollars are sent to the African continent in remittances each year and that 1% of that total has the opportunity to be a game-changer for business investment on the African continent and diaspora. Combining cultural pride, law, investment banking, and mentoring diaspora business put Grace in a unique situation to help shape business investment for enterprises primed to scale. Understanding the value proposition that money transfer companies see in supporting business customers is critical but also an essential part of their own business research and development. Grace described the criteria and focus of the Remit Social Impact Fund and gave us insight into how companies working in agribusiness and ethical fashion can use this finance to move manufacturing to the continent, thus creating jobs and ensuring financial resilience to communities. Grace also talked about the realities around equity stakes and share options as finance and investment vehicles for African businesses as well as the opportunities that film, gaming, and other creative industries can create for African countries to generate capital around. Grace rounds out the show sharing her insights into what she continues to learn on this journey and how Remit fund is now moving its attention to start-ups through its new mentoring program and training. For more information about Grace Camara and the RemitFund: Grace Camara: https://www.linkedin.com/in/gracecamara/ Website: https://remitfund.org/ Instagram: @myremitfund Facebook: RemitFund Help the RemitFund drive development on the continent by supporting the next generation of African diaspora champions. Donate to RemitFund and support: • investment in sustainable businesses that create employment opportunities for Africa’s youth and strengthen local economies; • programs that provide innovative ways of positioning the African diaspora as champions of the continent’s development; • interns from the African diaspora communities around the globe, providing them with the opportunity to be part of a transformative and forward-thinking organization that is working towards a brighter future for Africa. RemitFund ASBL is a registered non-profit (registered charity no. 736544655) and a member of the Federation of European and International Associations.